Dr. Reddy’s Laboratories (NYSE:RDY) Given New $81.00 Price Target at Barclays

Dr. Reddy’s Laboratories (NYSE:RDY) had its price target upped by Barclays from $80.00 to $81.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other equities research analysts have also commented on the company. Jefferies Financial Group lowered Dr. Reddy’s Laboratories from a buy rating to an underperform rating in a research report on Thursday, January 11th. StockNews.com downgraded shares of Dr. Reddy’s Laboratories from a strong-buy rating to a buy rating in a research report on Tuesday, April 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Hold and a consensus price target of $81.00.

Dr. Reddy’s Laboratories Trading Down 2.8 %

RDY traded down $2.03 during trading on Wednesday, reaching $69.47. 347,272 shares of the company’s stock were exchanged, compared to its average volume of 196,533. The company has a current ratio of 2.55, a quick ratio of 1.90 and a debt-to-equity ratio of 0.02. Dr. Reddy’s Laboratories has a one year low of $53.12 and a one year high of $77.72. The firm has a fifty day moving average price of $73.71 and a two-hundred day moving average price of $70.85. The stock has a market capitalization of $11.59 billion, a PE ratio of 18.33, a price-to-earnings-growth ratio of 1.88 and a beta of 0.57.

Institutional Investors Weigh In On Dr. Reddy’s Laboratories

Several institutional investors and hedge funds have recently made changes to their positions in RDY. Aikya Investment Management Ltd bought a new position in shares of Dr. Reddy’s Laboratories during the 4th quarter worth approximately $75,850,000. Assenagon Asset Management S.A. grew its holdings in Dr. Reddy’s Laboratories by 416.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 196,146 shares of the company’s stock worth $13,648,000 after purchasing an additional 158,141 shares during the period. Qube Research & Technologies Ltd increased its stake in Dr. Reddy’s Laboratories by 319.2% in the third quarter. Qube Research & Technologies Ltd now owns 174,398 shares of the company’s stock valued at $11,662,000 after purchasing an additional 132,791 shares in the last quarter. Schroder Investment Management Group raised its holdings in shares of Dr. Reddy’s Laboratories by 77.6% during the fourth quarter. Schroder Investment Management Group now owns 266,653 shares of the company’s stock valued at $18,554,000 after purchasing an additional 116,488 shares during the period. Finally, Fisher Asset Management LLC boosted its position in shares of Dr. Reddy’s Laboratories by 126.5% during the 4th quarter. Fisher Asset Management LLC now owns 205,280 shares of the company’s stock worth $14,283,000 after purchasing an additional 114,630 shares in the last quarter. Institutional investors own 14.02% of the company’s stock.

About Dr. Reddy’s Laboratories

Dr. Reddy's Laboratories Limited, together with its subsidiaries, operates as an integrated pharmaceutical company worldwide. It operates through Global Generics, Pharmaceutical Services and Active Ingredients (PSAI), and Others segments. The company's Global Generics segment manufactures and markets prescription and over-the-counter finished pharmaceutical products that are marketed under a brand name or as a generic finished dosages with therapeutic equivalence to branded formulations.